destra announces $1 million capital raising to help fund acquisitions
MELBOURNE – May 25, 2005 –destra Corporation Limited (ASX:DES) has announced today that the company has raised $1 million via an equity placement at 12 cents to help fund a number of acquisitions it is currently finalising. The private equity investment comes from Danny Wallis (via Snooze City Pty Ltd).
Danny founded and heads up DWS Advanced Business Solutions, a wholly Australian owned IT service provider servicing the market since 1991. DWS clients include Telstra, Fosters and ANZ bank. DWS’ success has catapulted Danny to the forefront of Australia’s most successful business entrepreneurs [BRW Rich 200 List, 19 May 2005 issue – page 24].
“I see strong synergies between what destra and DWS take to market and am confident of destra’s solid financial position, integrity and growth potential,” said Danny Wallis. Domenic Carosa, destra CEO, commented that the capital raising will allow the company to complete a number of acquisitions on which it is working. “destra is on track to deliver a profit this financial year and we expect this trend to continue into the 2006 financial year,” concluded Carosa. “We are delighted to have Danny increase his stake in the business. This is a clear expression of the continued confidence and belief he has in destra today and into the future,” added destra Chairman, Carl Olsen. - ENDS -
About destra Corporation Limited destra (ASX:DES) is a leading internet and e-commerce company delivering internet business and consumer entertainment solutions through its two arms – destra Business and destra Media. destra’s strategy is focused on high growth internet hosting and digital media markets and the development of proprietary intellectual property. Business communications offerings are delivered through the following divisions – ozHosting.com Priority One, Yahoo Web Hosting (by ozHosting.com), destra Business and TPP Internet. destra Media divisions include destra Music, Musicpoint and MP3.com.au. Visit www.destra.com.
About DWS & Danny Wallis DWS Advanced Business Solutions is an ISO9001 Quality Certified and Federal Government Endorsed IT Services company, established in 1991. The company offers a broad range of management and technical services enabling the provision of fully integrated end-to-end business solutions. DWS has a reputation in the industry for providing quality staff, working in partnership with clients and delivering excellent value for money. DWS currently employs 250 staff and is headed by Danny Wallis in his capacity as Managing Director.
DES Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
